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JLARC: Customized workforce-training B&O credit met statutory threshold but usage has declined sharply
Summary
JLARC recommended extending a B&O tax credit that pays half of customized workforce training costs because it met a statutory repayment-and-completion threshold, but staff noted program and credit use have fallen and recommended measures to expand geographic and industry participation.
Joint Legislative Audit and Review Committee staff told the House Finance Committee that the business-and-occupation tax credit for customized workforce training met the legislature’s statutory completion-and-repayment threshold and therefore warrants extension, but program use and credit claims have declined significantly.
JLARC reported the credit pays 50% of a business’s cost for training provided or contracted through the State Board for Community and Technical Colleges’ customized training program. The preference was…
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